12511 Clifton Blvd Lakewood, OH 44107

This exceptional investment opportunity presents a portfolio of two well-maintained apartment buildings totaling 75 units, situated on Clifton Boulevard in Lakewood, Ohio's prestigious Gold Coast submarket. The portfolio comprises The Traymore, featuring 29 spacious two-bedroom units, and Clifton Cove, offering 46 one-bedroom units. Spanning 84,528 square feet on a 1.77-acre lot, this property boasts a current occupancy rate of 92%, ensuring immediate cash flow for the investor. Significant capital improvements exceeding $1.2 million have been implemented since 2022, including renovations to 75-80% of the units, minimizing the need for immediate repairs and maximizing operational efficiency. The current rent roll and normalized expenses project an impressive 8.3% capitalization rate, with a clear path to achieving double-digit returns through strategic rent optimization and further cosmetic upgrades. This prime location within one of Cleveland's most sought-after rental markets guarantees strong tenant demand and long-term stability. The portfolio offers a compelling combination of immediate income generation and significant value-add potential, making it an ideal investment for discerning buyers seeking high returns in a desirable location. The asking price for this exceptional multifamily investment is $5,250,000.